Truist Financial Corp Purchases 94,594 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

Truist Financial Corp boosted its position in Clover Health Investments, Corp. (NASDAQ:CLOV) by 125.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,000 shares of the company’s stock after purchasing an additional 94,594 shares during the quarter. Truist Financial Corp’s holdings in Clover Health Investments were worth $144,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. HBK Sorce Advisory LLC boosted its stake in Clover Health Investments by 95.4% in the 4th quarter. HBK Sorce Advisory LLC now owns 62,820 shares of the company’s stock valued at $58,000 after purchasing an additional 30,667 shares during the period. Swiss National Bank boosted its stake in Clover Health Investments by 3.0% in the 4th quarter. Swiss National Bank now owns 786,600 shares of the company’s stock valued at $731,000 after purchasing an additional 22,900 shares during the period. Parametrica Management Ltd lifted its position in shares of Clover Health Investments by 54.6% during the 4th quarter. Parametrica Management Ltd now owns 36,627 shares of the company’s stock valued at $34,000 after acquiring an additional 12,935 shares during the period. Captrust Financial Advisors lifted its position in shares of Clover Health Investments by 2,788.2% during the 3rd quarter. Captrust Financial Advisors now owns 31,453 shares of the company’s stock valued at $53,000 after acquiring an additional 30,364 shares during the period. Finally, Algert Global LLC bought a new stake in shares of Clover Health Investments during the 3rd quarter valued at $49,000. 25.44% of the stock is currently owned by institutional investors.

Clover Health Investments Stock Performance

NASDAQ:CLOV opened at $1.37 on Wednesday. The stock has a fifty day moving average price of $1.13 and a 200-day moving average price of $1.01. The company has a market cap of $664.26 million, a price-to-earnings ratio of -2.49 and a beta of 2.04. Clover Health Investments, Corp. has a fifty-two week low of $0.71 and a fifty-two week high of $2.89.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. Clover Health Investments had a negative return on equity of 81.56% and a negative net margin of 9.32%. The company had revenue of $513.63 million during the quarter, compared to analysts’ expectations of $506.50 million. Research analysts predict that Clover Health Investments, Corp. will post -0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Citigroup upped their target price on Clover Health Investments from $1.00 to $1.50 and gave the company a “neutral” rating in a research report on Friday, August 11th.

Clover Health Investments Company Profile

Clover Health Investments, Corp. provides medicare advantage plans in the United States. The company through its Clover Assistant, a software platform that provides preferred provider organization and health maintenance organization health plans for medicare-eligible consumers. It also focuses on non-insurance businesses.